Saks: Consolidating Its Greenwich Operations
- 2 days ago
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Saks Global, the parent company of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, says it has made the "strategic decision" to consolidate its presence in Greenwich "to create a more cohesive shopping experience" for customers.
The Plan: Three Buildings Down to One:
The Main Anchor: The primary Saks Fifth Avenue store at 205 Greenwich Avenue will remain the heart of the operation.
The Shoe Gallery: Currently located at 20 East Elm Street, the beloved women’s shoe department will be integrated into the main 205 Greenwich Avenue building in June 2026.
The Men’s Store: The standalone men’s shop is closing its doors permanently on May 16, 2026. Men’s fashion will not be moving into the main building; instead, the company is directing those customers to the nearby Neiman Marcus in White Plains or to their digital platforms.
Why Now?
The announcement comes at a complex time for the luxury giant. In January 2026, Saks Global entered Chapter 11 bankruptcy proceedings to restructure roughly $3.4 billion in debt following its $2.7 billion acquisition of Neiman Marcus.
While the company has emphasized that the Greenwich consolidation is "unrelated to the Chapter 11 process," it aligns with a broader national trend. Saks has been aggressively "optimizing" its portfolio—closing underperforming locations and focusing on high-growth hubs—to better compete with direct-to-consumer luxury brands and online retailers.
Between the Lines: The big question for many residents is logistical: How do you convince your husband to join you for a visit to Saks on the Avenue when the men's store is now located in White Plains? These changes evoke fond memories of Woolworths (with its iconic lunch counter), which once occupied this very stretch of the Avenue.